The recovery rally in the Dax that started the day before continued on Friday with a slowdown. In the afternoon, the leading German index was last up 1.09 percent at 12,490 points. This indicates a weekly gain of around 1.8 percent for the stock market barometer. The MDax of medium-sized German companies gained 1.33 percent on Friday afternoon to 22,520 points. The leading eurozone index, the EuroStoxx 50, recently recovered by around 1.4 percent.
Real estate stocks in particular were in demand across Europe on Friday, which the turnaround in interest rates this year has had a hard time with. TAG Immobilien, the top value in the MDax, rose by 8.3 percent. Vonovia was at the top of the Dax with a plus of 5.7 percent. The shares in LEG Immobilien and Deutsche Wohnen each rose by around 5.5 percent.
Deutsche Bank shares rose in price by 3.0 percent and thus expanded the significant price increase from the previous day. In view of the pre-market reactions, the quarterly reports of some major US banks were largely received positively by investors.
Bayer’s shares lost some feathers at minus 0.7 percent after a strong week. The Leverkusen team was ordered by a Washington state court to pay 275 million US dollars. Several people who attributed illnesses to contact with polychlorinated biphenyls (PCBs) at a school had complained.
Among small caps, Nordex gained 5.7 percent. The wind turbine manufacturer was able to significantly increase its sales prices in the third quarter.
The euro rate recently fell to 0.9718 US dollars. The European Central Bank set the reference rate at $0.9739 on Thursday. On the bond market, the current yield fell from 2.18 percent on the previous day to 2.11 percent. The Rex pension index fell by 0.05 percent to 126.99 points. The Bund future rose by 0.66 percent to 137.79 points.
